We have established a long term cooperation with more than 20 R&D institutions including Peking University, Fudan University, Beijing Institution of Technology, China Pharmaceutical University and Jiangsu Provincial Institute of Material Medical on personnel training and projection cooperation. For instance, our brand product "Glipizide Tablet" was developed successfully by collaborating with Tianjin Pharmaceutical Institution. It saved more than one year and nearly millions RMB, and was up to domestic leading level.
We focus on technology exchange and cooperation, and have special external department responsible for negotiating with many domestic known R&D institutions. We also have established special offices to advance new drugs clinical study.
Among these projects, we are closely involved with institutions. Dr. Qiu Zhuibai from Fudan University and Dr. Fang Weigang from Peking University have come to give suggestions and guidance on new drug development many times. Our internal R&D personnel also have the chance to communicate with these professors. That not only advances the project of 1.1 new drug development, but also promotes our R&D team's innovation ability. From the end of 2009, we have signed development projects of four 1.1 new drugs at home and abroad with Peking University, Fudan University and Peking Institution of Technology. Till recently, all of them have made breakthrough progress, and one of them have started Phrase I and the remains are in the process of pre-clinical study.
We are planning to invest 200 million RMB in four new drugs of Type 1. In the first year, we are trying to obtain new drug certificate and production authorization of one product, and in 5 years it will reach 4 products. From now on, we will introduce 2-4 new drugs of type 1 annually, and in 5-10 years we will establish the marketing structure majoring in new drugs of type 1 and have marketed products up to 100, to develop into the international leading pharmaceutical enterprise with advanced products.